Energen (EGN) Earns “Buy” Rating from Stephens

Stephens reissued their buy rating on shares of Energen (NYSE:EGN) in a report published on Thursday morning. The brokerage currently has a $74.00 target price on the oil and gas producer’s stock.

Several other equities analysts have also recently commented on EGN. Barclays raised Energen from an equal weight rating to an overweight rating and set a $70.00 price target for the company in a report on Monday, November 20th. Scotiabank reissued a buy rating and issued a $63.00 target price on shares of Energen in a report on Wednesday, November 22nd. Wells Fargo began coverage on Energen in a report on Friday, December 1st. They issued a hold rating for the company. Credit Suisse Group began coverage on Energen in a report on Monday, December 11th. They issued a neutral rating and a $60.00 target price for the company. Finally, JPMorgan Chase & Co. cut Energen from a neutral rating to an underweight rating and set a $57.00 target price for the company. in a report on Friday, December 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $66.82.

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Energen (NYSE EGN) opened at $57.32 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $5,583.25, a P/E ratio of 75.42 and a beta of 1.61. Energen has a twelve month low of $46.16 and a twelve month high of $60.07.

Energen (NYSE:EGN) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.41 by $0.22. The firm had revenue of $271.80 million during the quarter, compared to analysts’ expectations of $303.95 million. Energen had a return on equity of 2.27% and a net margin of 30.12%. The company’s revenue for the quarter was up 137.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.27) EPS. equities research analysts expect that Energen will post 3.17 earnings per share for the current year.

In other news, Director Lori A. Lancaster acquired 1,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were purchased at an average cost of $57.79 per share, for a total transaction of $57,790.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $57,790. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David A. Godsey sold 6,000 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $57.77, for a total value of $346,620.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in EGN. SeaCrest Wealth Management LLC bought a new position in Energen in the 4th quarter valued at $109,000. Amundi Pioneer Asset Management Inc. bought a new position in Energen in the 4th quarter valued at $115,000. Cerebellum GP LLC bought a new position in Energen in the 4th quarter valued at $125,000. Calton & Associates Inc. bought a new position in Energen in the 4th quarter valued at $185,000. Finally, ZWJ Investment Counsel Inc. bought a new position in Energen in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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About Energen

Energen Corporation is an oil and natural gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas properties and natural gas. Its operations are conducted through subsidiary, Energen Resources Corporation and occur within the Midland Basin, the Delaware Basin and the Central Basin Platform areas of the Permian Basin in west Texas and New Mexico.